Energy Vault Holdings, Inc. (NYSE:NRGV) Receives Average Rating of “Hold” from Analysts

Energy Vault Holdings, Inc. (NYSE:NRGV) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $1.95.

Separately, TD Cowen reaffirmed a “buy” rating and set a $2.50 price objective on shares of Energy Vault in a report on Wednesday, November 13th.

Energy Vault Trading Down 10.5 %

NYSE NRGV opened at $2.21 on Friday. Energy Vault has a twelve month low of $0.78 and a twelve month high of $2.69. The stock has a 50-day moving average of $1.91 and a 200 day moving average of $1.37. The stock has a market capitalization of $336.19 million, a price-to-earnings ratio of -3.40 and a beta of 0.44.

Energy Vault (NYSE:NRGV) last announced its earnings results on Tuesday, November 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.03). Energy Vault had a negative return on equity of 47.41% and a negative net margin of 73.37%. The business had revenue of $1.20 million for the quarter, compared to analyst estimates of $4.80 million. During the same period in the previous year, the company earned ($0.13) earnings per share. Equities analysts predict that Energy Vault will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Robert Piconi acquired 150,000 shares of Energy Vault stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price of $1.57 per share, for a total transaction of $235,500.00. Following the completion of the transaction, the chief executive officer now owns 17,623,361 shares in the company, valued at $27,668,676.77. This represents a 0.86 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Energy Vault

Several hedge funds have recently made changes to their positions in the company. State Street Corp raised its position in Energy Vault by 1.1% in the third quarter. State Street Corp now owns 1,850,702 shares of the company’s stock valued at $1,777,000 after purchasing an additional 20,915 shares during the period. Barclays PLC raised its holdings in shares of Energy Vault by 225.2% in the 3rd quarter. Barclays PLC now owns 143,759 shares of the company’s stock valued at $137,000 after buying an additional 99,550 shares during the period. Geode Capital Management LLC lifted its stake in Energy Vault by 8.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,273,042 shares of the company’s stock worth $2,182,000 after acquiring an additional 177,214 shares in the last quarter. XTX Topco Ltd boosted its holdings in Energy Vault by 684.0% during the 2nd quarter. XTX Topco Ltd now owns 173,016 shares of the company’s stock valued at $164,000 after acquiring an additional 150,948 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in Energy Vault by 33.3% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 80,000 shares of the company’s stock valued at $76,000 after acquiring an additional 20,000 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Energy Vault

Energy Vault Holdings, Inc develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen.